IEA Sees Robust Oil Demand In October

After three consecutive months of declines due to the Delta variant, global oil demand is set to rebound with a 1.6-million-bpd jump in October and continue rising through the end of the year, the International Energy Agency (IEA) said on Tuesday. In its closely watched Oil Market Report, the agency slightly revised down its full-year 2021 demand growth projection, but noted that pent-up demand and vaccine programs are expected to give rise to “a robust rebound” in global oil demand from the fourth quarter of this year. The IEA now…